Medicrea launches Australian spine subsidiary: 3 notes

Medicrea entered a joint-venture agreement with National Surgical's spine division to launch an Australian subsidiary.

Here are three things to know:

1. Prior to the joint-venture, National Surgical was a leading distributor for Medtronic's spine and biologics business segments in Australia and New Zealand.

2. Australia and New Zealand represents the third largest spine market in the world after the U.S. and Japan. It is valued at more than $198 million annually.

3. Medicrea holds a 51 percent majority stake in the Australia joint-venture. All revenue generated through the sale of Medicrea products in Australia and New Zealand will be aggregated in the company's group consolidated numbers.